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. it sounded to me like president obama talking about tax rates. >> is this dead or still alive? >> it is still alive. and it is ugly. but the piece that you mentioned. setting aside some of the substance here. there is a new poll out today that shows the public unchanged. it has been that way for weeks now. they had a proposal and i think it is middle ground and they put it in a letter and leaked it to the press. i think you heard what you heard from the president all along. >> i have to say, i agree with guy. part of the challenge here is the president knows that he's got the public on his side. also remember the exit polling from the elections that shows people are fine with taxes going up on the top 2%. this is part of why the deal from john boehner was a non starter. he said how about deduction caps so you have lots of taxes. is he in trouble with his right wing? >> yes, he is. they have purged the scam. you said it. spending cuts. they are talking about $350 billion. what matters here is the numbers. we can't afford this. we have $16 trillion in debt. we have $87 trillion in unfunded high
again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking tonight, potential catastrophe if syria uses its chemical weapons. president obama issues a stern warning to syria and i quote the world is watching. and there will be consequences if syria uses these wmds. have we just committed ourselves to another war? and the gun control debate is squarely back in the spotlight tonight after the murder/suicide by nfl player in kansas city, second amendment instead of blaming the sick people who use them. republicans have responded to a fiscal cliff counter offer to president obama. eamon javers joins us now from washington with all the details. good evening. >> reporter: good evening. leapt me walk you through the specifics or at least what specifics we have so far from this boehner counter offer and you can see where it falls short from the white house's perspective right in the top line take a
, which means any lower tax rates president obama will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so every day that goes by after january 1st isn't going to look like that big of a deal and essentially, time will run out for both parties, you will have a lot of problems in 2013, they will take the lion's share away from fiscal dealmaking, senate confirmation, have the debt ceiling, the long-delayed nuclear negotiableses with iran, going to have posturing for the 2014 campaigns. all of those things are going to suck out the moment up that we have right now. so, yes, democrats are not as bad off as the republicans, but that doesn't mean they s
. he didn't explicitly say top rates because bu that's what that bill does. does mr. obama and the republicans have the votes to pass their bill? >> well, i think they of course will have them in the senate. i doubt they would have them in the house of representatives. more importantly, larry, the president came out of the election, held a press conference, said his number one priority was jobs and growth. we would agree that jobs and growth should be the number one priority. the worst thing can you do if you're worried or interested in growing commit and creating jobs, you can't raise taxes on creating those jobs. almost a million small businesses would be faced with higher taxes. those same small businesses employ 25% of the workforce and you have a study out there that says it would cost the economy 700,000 jobs, reduce take-home pay by 2% and slow the economy by 1.3% it's a mistake to do that. >> i'm looking at the politics of it. i see saxby as a defector, i see susan collins as a defector. dough do they have the vote? >> i assume they keep all 53 democrats on all that
evening, everyone. i'm larry kudlow. this is "the kudlow report." the talks are back on. team obama and team boehner are back at the negotiating table. but there is still substantial disagreement on tax rates, tax revenues, domestic spending and entitlement reform and the clock is ticking. speaking of tax hikes, europe's grand experiment with taxing the rich more is falling apart, especially in france and britain. and here at home, california and new york are passing through the 50% tax rate barrier. is anybody looking at how tax hikes fail the test of economic growth? >>> back here in the u.s., could it be michigan which used to call itself the worker's paradise union state is now moving towards new anti-union right-to-work legislation and it looks like it's going to pass? but first up, budget talks resume between speaker john boehner and president obama today. with just 25 days to go, let's keep tabs on where we stand. reports of a conservative backlash against speaker boehner simply not true. he has the solid support of his leadership and the rank and file. but there is concern a
rates on americans. they're saying they're willing to raise revenue, but president obama has one criteria in this debate and that's raising income rates on all americans. right now, the sides are in their two corners on this and nobody is moving. so we're really only a couple weeks out and there's this huge gap, and eamon was right in another aspect. there is this brush fire of conservative lawmakers who don't want to raise revenue at all. so this is a huge problem for speaker john boehner, huge problem for president obama, and for the american economy. >> so right. does this come down to political opinion? is that going to be the sway factor? and if so, where is the political opinion? who gets that vote? >> polls in the united states show that raising taxes on the wealthy is an attractive proposition, a popular proposition. this might come down to december 28th or december 29th, december 30th where both sides are still locked in their corners and one side has to give. now, president obama ran his campaign on raising income rates, raising marginal income tax rates on americans. s
owners with us today are here to highlight president obama's demand to raise tax rates instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table and then continue to negotiate the rest to have later. some of the republicans are now coalessing around that view that they should give into what the president is suggesting, at least temporarily, and continue to negotiate on the rest because there's a lot of political pain here for republicans if we do get to the point where we go over the cliff because of those higher tax rate pateryers, guys. >> all right, eamon. thank you. >> the talk continues, but none of it face to face. be sure to catch a live interview with on
at the numbers that obama uses. if you repeal the top tax rates you're supposed to make 800 billion. if you repeal the whole bill you're supposed to lose 4.5 trillion. it all went to the middle class. i got to challenge your facts on that. that went to the middle class. but do you think right now that there is a chance, i mean responding to what peter said, do you think that obama is going to cold shoulder the gop? here's why i'm saying this. let me just go one more thing. i think he's bluffing. i think the last thing in the world obama wants is a stalemate that will lead to all the taxes going up. all of them. and will lead to a recession. >> disaster. >> then he would be herbert hoofer obama and his second term and legacy would be completely wrecked. that's why i think obama is bluffing and the gop needs to counter. >> there's a distinct philosophical differences obviously between the house majority, which peter was elected overwhelmingly in 2010 and resoundingly re-elected in 2012. across the country. they have a strong voice. they have a position. the american people have embraced. the
. geithner will lunch with mitch mcconnell and then house minority leader nancy pelosi. president obama is signaling he's flexible on on where tax rates should go for the wealthiest americans. a return to the clinton era tax rates would have households pay between 36% to 39%. the president met with a group of 14 ceos wednesday afternoon. they offered support for resolving the if i can crisis with a proposal for higher taxes for those who make more than a quarter million dollars a year. sdl bo >> both sides have acknowledged that there will be revenue concessions and sbilgtment cent concessio concessions. i'm not a master of the political art here, but i would say if you have these point of views in a business context as close as they are, i would say a deal would be in reach. >> ford chairman bill ford junior agrees with blankfein saying he's confident the obama administration can reach a deal with congress to avoid the fiscal cliff. but speaking with reporters in bangkok, he says the automaker is prepared for any outcome. cnbc has learned the completion of the so-called volcker rule is
is the guy that pushed obama to extend the bush tax rates in 2010. so reid would i suspect -- >> i'm starting to like him more. i thought of him as senator pat geary from godfather 2. but everybody loves harry. there's a song everybody loves harry. anybodies that that has anything to do with casinos loves harry. just a quick question. you were a big cap guy for a long time. now dividends rates where going up. are you still a big cap guy? i've been a small cap guy. i'll tell you you why. >> when did you switch? >> this is a while ago. the reason why, number one -- it's a growth story. >> do you like the natural gases play ms in small cap? >> the way we've invested, we haven't been looking at producers. we're looking at users of natural gas. i think that's been a little bit better. >> we'll hit that break at 6:50, the one that we keep -- >> let's do it. >> and write a six minute tease for that break. i'm going to have time to read the entire thing and people at the end of that tease, no one will leave before 7:00. >> because we never listen to the producers. >> the only reason people watch us i
obama won, maybe got to give them a little bit of room on rates. >> all right, robert costa, we'll see how this whole thing turns out. now let's break down today's market action. the dow popped. unfortunately, apple dropped. the dow jones was up 83 points. apple fell about 6.5%. here now to help us break it down, danielle hughes, ceo of divine capital markets. it's very interesting to me. fiscal cliff or not, china, europe, whatever, the s&p 500 up 12.1% year to date. that is a good year. that is an optimistic year. why is that? >> it seems like we're forgetting about that, doesn't it? with all this talk about what's happening going forward and concern about corporate growth. and truly, we're concerned about corporate growth as well because there really hasn't been that long-term information from our government, from our policyholde policyholders, no economic policy in real investment in assets that we've seen. that's going to be a problem going forward, not to mention the global slowdown, and we're hitting the top of corporate profits now. >> so you don't agree with this. you're turni
people. >> did you see this, obama is flexible on highest tax rates. >> administration official. white house officials later signaled that. he didn't signal it in anything he said. >> i spoke to a couple who were at the meeting yesterday, some of the executives, who felt, and this is like the implied feeling that he was now more willing to deal on the highest rate. >> did you hear anything about spending cuts or entitlement reform? >> two conversations are taking place. one if the public trying to get them behind you. the other is whether you're actually saying to the people you're negotiating with. and when you saw the signal, it was like, okay, maybe they'll get to that, i don't know, 37% or 500,000 or something. what we had been talking about two weeks ago. maybe that's where they're headed. stocks did gain ground on optimism around the idea that we could reach some sort of a deal to overt the fiscal cliff. the dow closing more than 100 points higher after being down by more than that during the session. a swing like that hasn't happened since october 2011. u.s. equity futures at th
into the administration right in this area, but anyway, you are who you are, and we're glad you're here. obama doesn't want another recession. the idea that pallety murray/chuck schumer idea if they can't have their way with no spending, if they can't have their way and raise tax rates they'll let all the tax cuts expire and we'll go into a recession. i think that's a bluff. i think that makes obama herbert hoover obama. he can't take a second recession and it would blow him out of the water. i think that's why the republicans have more leverage than they think. >> that's absolutely true. >> you buy that? >> more importantly there are three other reasons you should be able to get to an agreement. speaker boehner nose knows we need an agreement. three, this is the rare period in american politics where you can have governance with less politics. number four, you have a forcing mechanism. that happens very rarely, so those -- all those factors come together. i believe one of these weekends the president and speaker will get in a room and desire this things. >> we were there in the summer of 2011. we w
and evolving story. >>> also, the ceo of accounting giant recently met with president obama. he say miss other ceos in that meeting agreed the tax rates for the wealthy have to rise as part of any fiscal cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... i'm with scottrade. >>> one of the most bizarre man hunts in recent memory is coming to an end in central
there, you'll have to see the democrats get their way in terms of higher marginal tax rates. he also said that the republicans should be able to see higher entitlement cuts, that that should be part of this conversation. >> obama doesn't listen to him at this point. do you see how this is on? it's as tenuous as the talks themselves. leechb one way or the other, it falls off. anything the slightest movement respect, and the cliff -- we're not rising above. you're getting a hum on my microphone? i'm fine. the audio guy. interrupts the show to tell me there is a hum and there isn't a hum. >> i appreciate that. also senator harry reid says that republicans need to, quote, get serious. both sides are saying this, both sides -- a lot of kabuke theater. >> everyone got disgusted. nobody needs that image. >> the fiscal cliff will certainly be one of the main topics of discussion when president obama meets with some of the nation's governors today. actually i think they're meeting with vice president biden. then governors will be meeting with some of the congressional leadership, as well. but
the republicans are offering. if you look at spending, the republicans run about twice what obama is offering. they got to figure out how to come together on this. they're arguing over rates or deductions, which makes no sense. i mean, it's like you want to go on a trip. we decide we're going on a trip together. we're going to argue about whether we're taking a bus or a train. just figure out how much money you want from revenue, figure out who you're going to get it from, figure out how you're going to protect people, then figure out the formulas. >> and the white house wants the money to come from a specific place. he doesn't necessarily want $1.6 trillion clean. he wants it to come from higher tax rates. >> and i think it's fine say where you want to get the $1.6 trillion or $800 billion from. you ought to just call -- i want to get it from people who make more than $250,000 as opposed to trying to lock people into a formula. what you really need is money. >> you put it so simply, as if it's easy. i guess it is. i don't know why they're having such a difficult time with that. let me get yo
as president obama. domestically it says a return to strong consumption is unlikely and that the rate cut is designed to foster growth in the local economy. wayne says he wouldn't be surprised to see a slight moderation in the growth numbers. the that's the latest from sydney. >> meanwhile qualcomm set to become a sizable shareholder in sharp. they're investing $61 million in struggling japanese lcd firm, but could double that if all goes well. the deal announced after the monthly close will see joint efforts on energy efficient smartphone displays. this will be through qualcomm subsidiary. sharp shares higher on reports that the deal would be announced up 1%. and cargo ships are stacking up offshore and the strike moves in to its second week. contract talks resumed on monday. the longest disruption of the busiest port since a ten day lockout in 2002. but this one is taking place after the busy pre-holiday shipping season. national retail federation has asked the president to intervene. facebook might be a stock to watch. here's a full preview. >> in the u.s., cars and housing are two are
impact. >> getner says the obama administration is only too willing to go over the qulif. cliff. do they mean marginal rates, or just rates. >> that's what's going to be worked out, the last minute deal that's where you find wiggle room. >> i guarantee you there's guys in boehner's camp that are ready to go over, too. >> but he's been moving to marginalize those peel. this is his way of taking control of the party. >> the question is why do they care where the money comes from. if you have a revenue target, then fine. but we need $800 million in revenue. john wehner figured it out. and boehner can turn around and say i need $6 trillion in titlement cuts. and they can each take each other's playbook and try and figure out what they would like best to -- figure out the number and figure out how to get there. >> i don't know. both sides seem to be only too willing to do it. they're in the booking rove on fox because of that fiasco. which made good tv, but apparent apparently, i don't know, but he says republicans will get the blame for going off the cliff, but the president will be wea
wind than increase in interest rates. right now we're at low interest rates environment based on chairman bernanke's comments sounds like it will continue. we see the tax impact under obama's proposal as being a much greater and more severe risk than modestly higher jump in interest rates. overall we're still bullish. we're housing bulls. we see no reason based on the news from toll today to change that constructive view on the housing market. >> you mentioned in your note vertical development. anybody who lives in manhattan is starting to see a toll sign on a ten story condo building in mid town. is that a vanity play and material to quarters to come? >> urban infill is 20% of tolls ref few base. it's a long-term strategy. extremely high quality builder. they have expertise to go vertical in new york. it's a highly profitable segment. this is something which will continue to drive strong profit growth for toll brothers. >> interesting. not something you would think of immediately but something to watch. thanks for your time. >> thanks for having me. >>> from homes to mobile p
, then there will be concerns about cuts, rate cuts in the credit standing of the united states. that's what they're going to be worried about. >> that even goes to obama's terminology yesterday. he talked about presenting a framework by chris mall. framework, all that means is, listen, we've got to plan, we can modify it, tweak it -- the market will not want that. >> the market will move very quickly if they perceive it is not substance. remember it's two parts -- soon and substance. >> thank you very much. >>> to the nasdaq right now, bertha coombs is there following the big movers. >> over the last couple of days the nasdaq has managed to move into positive territory for the month of november, back above 3,000. today one of the biggest movers is research in motion getting an upgrade at goldman sachs. one of the firms that sees them perhaps getting some traction with the blackberry 10 rollout in 2013. apple up today as well, up more than 1%. look what's happened this month. nasdaq composite has moved up without the help of apple. apple on track for the third straight monthly loss. what's really made the
marshalling tax rates or taxes on the rich was a red herring in debt reduction. the problem that you have is right or wrong, obama has just won the election on that basic pledge to raise taxes. >> wrong, wrong, wrong! you know what, that makes no sense. how many people do you know that said i'm going to vote for the president to have more debt, and in an economy that can't grow it's way out of the issues? we currently only take in about 15.5% revenues. we need to get to 2021. >> i understand that. >> it's not a tax problem, it's a growth problem. and he has no growth plan. so then they blame others, because they don't have a plan. >> but he was able to get through the election doing precisely that. >> got through the election on social issues. on the economy, i think it's pretty clear that nobody voted for four more years of the current economy. four more years to get his house in order and he's not going to get his house in order using the red herring of taxes when it's entitlemen entitlements. it just isn't going to work, simon. >> i get it. i'm just pointing out -- >> you know what, le
president obama's proposal which includes a $1.6 trillion tax increase, a $50 billion economic stimulus package and new power to increase the debt ceiling without congressional approval. the offer featured higher tax rates for households making over $250,000 a year. a one year postponement of the sequester and about $400 billion in savings over ten years for medicare and other entitlement programs. >> despite the claims that the president supports a -- >> thousand is the time fnow is republicans to move past the happy talk about revenues, ill defined, of course, and put specifics on the table. the president has made his proposal. we need a proposal from them. >> today president obama is taking his pitch on the road. he will be visiting the philadelphia suburbs employing campaign style tactics in hopes of mobilizing the public to his side. he'll be speaking at a manufacturing facility arguing that businesses it depend on middle class consumers over the holiday season. despite all this, you see the futures today indicating higher. dow up by about 35. does that surprise you guys? >> no, i
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